fuqua school of business

CMOs Using Marketing Analytics Sparingly; Most Forgo Formal Evaluation of Quality

source: http://www.marketingcharts.com/wp/topics/financial/cmos-using-marketing-analytics-sparingly-most-forgo-formal-evaluation-of-quality-36312/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

Duke-CMO-Survey-Marketing-Analytics-Trends-Aug2013Worsening trends for marketing analytics in the US, according to the latest CMO Survey [pdf] from Duke University’s Fuqua School of Business. The percentage of projects estimated by CMOs to be using marketing analytics has dropped to 29% from 35% at this time last year, while two-thirds of CMOs now say their company doesn’t formally evaluate the quality of marketing analytics, up from 53.2% last year.

Another measure of marketing analytics’ influence is the degree to which its use contributes to company performance. And CMOs’ responses in this latest installment of the survey again show a declining trend: On a 7-point scale (with 7 being “very highly” and 1 “not at all”), CMOs gave analytics’ contribution a mean rating of 3.5, down from 3.7 in the February 2013 survey and 3.9 in the August 2012 survey.

Currently, analytics are most commonly being used to drive decision-making in the areas of customer acquisition (31.7%), digital marketing (28.5%) and customer retention (27.6%), per the study.

CMOs indicated that they infrequently leverage marketing analytics to answer their most challenging marketing questions. More than 1 in 8 said they weren’t leveraging analytics any of the time to answer such questions, compared to just 4.3% saying they do so all the time. (The mean rating was 3.7 on the 7-point scale, with 7 referring to use “all of the time.”)

Numerous studies (such as this one) have highlighted the difficulties marketers are facing when looking for the right talent for data analysis, and CMOs’ responses support those findings. On a 7-point scale (7=has the right talent), almost 4 in 10 respondents rated their company’s analytics talent as a 1 (12.9%) or 2 (25.4%).

Tags: , , , , , , , , , , , , , ,

Friday, August 30th, 2013 news No Comments

2 in 3 CMOs Feeling Pressure From the Board to Prove Marketing’s Value

source: http://www.marketingcharts.com/wp/topics/branding/2-in-3-cmos-feeling-pressure-from-the-board-to-prove-the-value-of-marketing-36293/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

DukeCMOSurvey-Pressure-CMOs-Prove-Value-of-Marketing-Aug2013This may be “the year of the marketer,” but with added responsibilities come added pressures. The latest biannual CMO Survey [pdf] from Duke University’s Fuqua School of Business finds that CMOs are not immune: according to the study, 66.4% said they feel pressure from their CEO or Board to prove the value of marketing. What’s more, 6 in 10 of those said that their leaders are turning up the heat, with just 2% reporting decreasing demands to prove their worth.

CMOs are being asked to prove their value at a time when the intensity of competition is ratcheting up a notch. Respondents indicated that the rivalry for customers is likely to become more intense in the next 12 months (5.5 on a 7-point scale, where 7 represents very likely), with competitor price-cutting also increasing (scoring 5 on the scale). Moreover, compared to surveys from prior years, CMOs are more likely to be anticipating the emergence of new domestic and global competitors.

CMOs are also feeling increasing pressure while seeing budgets dip: they expect marketing spending to grow by 4.3% over the next 12 months, a fairly marked step down from the February survey’s 6.1% growth forecast. Currently, marketing budgets are reported to account for an average of 9.4% of firm budgets, down from 10.6% in February.

Tags: , , , , , , , , , , , , , , , ,

Friday, August 30th, 2013 news No Comments

2 in 3 CMOs Feeling Pressure From the Board to Prove Marketing’s Value

source: http://www.marketingcharts.com/wp/topics/branding/2-in-3-cmos-feeling-pressure-from-the-board-to-prove-the-value-of-marketing-36293/?utm_campaign=newsletter&utm_source=mc&utm_medium=textlink

DukeCMOSurvey-Pressure-CMOs-Prove-Value-of-Marketing-Aug2013This may be “the year of the marketer,” but with added responsibilities come added pressures. The latest biannual CMO Survey [pdf] from Duke University’s Fuqua School of Business finds that CMOs are not immune: according to the study, 66.4% said they feel pressure from their CEO or Board to prove the value of marketing. What’s more, 6 in 10 of those said that their leaders are turning up the heat, with just 2% reporting decreasing demands to prove their worth.

CMOs are being asked to prove their value at a time when the intensity of competition is ratcheting up a notch. Respondents indicated that the rivalry for customers is likely to become more intense in the next 12 months (5.5 on a 7-point scale, where 7 represents very likely), with competitor price-cutting also increasing (scoring 5 on the scale). Moreover, compared to surveys from prior years, CMOs are more likely to be anticipating the emergence of new domestic and global competitors.

CMOs are also feeling increasing pressure while seeing budgets dip: they expect marketing spending to grow by 4.3% over the next 12 months, a fairly marked step down from the February survey’s 6.1% growth forecast. Currently, marketing budgets are reported to account for an average of 9.4% of firm budgets, down from 10.6% in February.

Tags: , , , , , , , , , , , , , , ,

Thursday, August 29th, 2013 news No Comments

Traditional Media Ad Spend to Dip; Digital to March On

source: http://www.marketingcharts.com/wp/interactive/cmos-traditional-media-ad-spend-to-dip-digital-to-march-on-36248/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

DukeCMOSurvey-Marketing-Spending-Projections-Aug2013It’s becoming a familiar story: marketers are shifting their budgets from traditional to digital marketing. Indeed, just 1 in 4 media buyers believe that traditional media will maintain a greater share of the marketing budget than digital in the years to come, according to a recent STRATA survey. The latest installment of The CMO Survey [pdf] from Duke University’s Fuqua School of Business indicates that CMOs continue to see a brighter future for digital than traditional media spending.

In this latest survey, CMOs estimated that they will increase their digital marketing spending by 10.1% over the next year. By comparison, they expect to rein in traditional media ad spending by 2.1%.

Tags: , , , , , , , ,

Thursday, August 29th, 2013 digital No Comments

Only 15% of US CMOs Say They’ve Proven Social’s Biz Impact Quantitatively

source: http://www.marketingcharts.com/wp/interactive/only-15-of-cmos-say-theyve-proven-socials-biz-impact-quantitatively-36241/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

Duke-CMO-Survey-Measuring-Biz-Impact-Social-Mktg-Spend-Aug2013Marketers’ struggles measuring social’s ROI are well-documented. But here’s another sobering view from the top: according to the latest CMO Survey [pdf] released by Duke University’s Fuqua School of Business, just 15% of CMOs in the US can confidently say they have quantitatively proven the impact of social media on their business. By contrast, 49% haven’t been able to show the impact yet, and the remaining 36% have a good qualitative – but not quantitative – sense of the impact.

Respondents were asked to choose which answer best described how they show the impact of social media on their business.

Given current spending levels on social media outlined in the study, the results indicate that CMOs are allocating 6.6% of their overall marketing budgets to a channel which only 15% can confidently measure on a quantitative basis.

CMOs are clearly having a harder time measure the impact of their social efforts than of their overall marketing spending. Separately in the study, 36.3% of respondents said they can prove the short-term impact of their marketing spending quantitatively, while 31.7% concurred with respect to the long-term impact of their overall marketing spending. (While CMOs clearly have a better quantitative grasp of overall marketing spending than just their social efforts, it should be noted that the proportion who claim to quantitatively prove the impact of their marketing spend is also quite low.)

Duke-CMO-Social-Spending-Plans-Aug2013Interestingly, while CMOs have been bullish about social media spending in past iterations of the survey, they seem to have softened their stance in the latest results. Current levels of social media spending (6.6% of total marketing budgets), for example, lag reported levels from this time last year (7.6%). Similarly, the share of marketing budgets expected to be allocated to social over the next 12 months has declined from 10.7% to 9.1%, as has social’s share of spend expected in the next 5 years (from 18.8% to 15.8%).

Tags: , , , , , , , , , , , , , ,

Tuesday, August 27th, 2013 news No Comments

CMOs to Rein in Traditional Ad Spend, Press on With Digital Marketing

Source: http://www.marketingcharts.com/wp/interactive/the-shift-continues-cmos-to-rein-in-traditional-ad-spend-press-on-with-digital-marketing-27317/

Despite consumer and marketer beliefs that traditional media advertising on the whole is more effective than online advertising, marketers continue to shift budgets away from traditional media and towards digital marketing channels, finds Duke University’s Fuqua School of Business in its latest installment of The CMO Survey. In this latest survey, CMOs forecast a 2.7% […]

Tags: , , , , , , ,

Wednesday, February 27th, 2013 news No Comments

CMOs Prioritize Digital Presence

Source: http://www.marketingcharts.com/direct/cmos-see-strong-revenue-growth-overseas-prioritize-digital-presence-23053

August 24, 2012

dukecmosurvey-average-percent-growth-intl-markets-aug2012.pngCMOs are seeing big sales growth in international markets, with revenue from Korea (75%), China (51.5%), and Brazil (49.7%) all increasing markedly over the past 12 months, according to [pdf] the latest CMO Survey from Duke University’s Fuqua School of Business, released in August 2012. A separate survey of CMOs from Limelight Networks finds 9 in 10 reporting moderate or significant improvement in site engagement, lead generation, or revenue after implementing websites with regional content.

Overall, CMOs responding to the Duke University survey said that sales revenue from the leading international markets had grown by an average of 23.7% over the past 12 months.

 

Tags: , , , , , , , , , , , , , , , , , , , , , ,

Saturday, August 25th, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

Augustine Fou portrait
http://twitter.com/acfou
Send Tips: tips@go-digital.net
Digital Strategy Consulting
Dr. Augustine Fou LinkedIn Bio
Digital Marketing Slideshares
The Grand Unified Theory of Marketing